Understanding Your Health Insurance Options During Open Enrollment in 2018

The 2018 open enrollment period for healthcare officially runs from November 1, 2017 until January 31, 2018, and it is open to anyone who purchases individual health insurance plans. In fact, even if your employer offers you insurance, you could take advantage of open enrollment for yourself or a member of your household. People with the option to purchase employer-based plans are blocked from certain subsidies because of the fact, but if the insurance on the exchange is a better deal that saves you money, you are welcome to opt for that insurance instead of your employer-based healthcare. ​

Types of Health Insurance Plans

There are several types of insurances to understand, both in terms of what kind of plan you have and how much coverage it provides. Here’s a list of types of insurance you need to know about before picking a plan:
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• Health Management Organizations (HMOs): These organizations are usually geographically limited, and they include a network of doctors with coverage options for various services. They tend to have little coverage of out-of-network services.
• Preferred Provider Organizations (PPOs): These plans tend to have wider networks for coverage. Often that comes with a slightly higher coinsurance cost, but it also tends to come with better access to out of network providers and more cost-sharing under those circumstances.
• Exclusive Provider Organizations (EPOs): These are like PPOs, but with more limited options.

Any of these types of plan could also be considered a Bronze, Silver, Gold, or Platinum plan if it is sold on the exchange in California, but not every plan of this type will be available on the ACA. Many are still exclusively offered through employers and other channels.

​Purchasing Your Health Insurance for 2018
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Remember, if you are shopping for insurance, a great broker can make the difference. Agents help you understand how your options fit your needs and offer useful advice. The best part is, insurance broker services are free to you. For more information about your 2018 enrollment options, follow Sackett Insurance Services on Facebook, and LinkedIn so you stay up to date with the facts you need to know during this insurance enrollment season.